Korea has played, and will increasingly play, an important role in the future development of the South East Asian region, including the expansion of regional economic cooperation and interregional trade. Indeed Korea has been a leading proponent of the idea of ASEAN+3. Clearer understanding of this economy, its major contemporary policy and reform issues and its future, are of particular interest from both regional and global perspectives.
A remarkable recovery of the post-crisis Korean economy occurred, but questions over its sustainability remain. Korea, therefore, stands at an important economic crossroads. This opportune book draws upon the knowledge of a wide range of experienced Korean economists and specialists to cover in detail many specific sectors and policy areas, ranging from the key reform sectors - financial, corporate, and public and the labour market, to that of monetary and exchange rate policies. The role and contribution of the `new economy' is also examined along with developments in Korea's trade and foreign direct investment, free trade agreement policy, inter-Korean economic relations, and the core ingredients of a `new' growth and economic development paradigm.
Scholars and researchers of comparative economics as well as more specifically contemporary Korean and Asian economic, development and financial studies will find this book of great interest.
Edited by Charles Harvie, Associate Professor and Director, Centre for Small Business and Regional Research, University of Wollongong, Australia, Hyun-Hoon Lee, Kangwon National University, South Korea and Junggun Oh, The Bank of Korea, South Korea
Contents: Part I: Introduction 1. Introduction 2. Lessons from the Korean Financial Crisis Part II: Reform and Policies 3. Financial Sector Reform 4. Corporate Restructuring in the Wake of the Financial Crisis 5. Reforming the Korean Labour Market and Social Safety Net: Key Pending Issues 6. Public Sector Reforms 7. Monetary and Exchange Rate Policies Part III: Other Issues 8. A New Economy for Korea 9. Post-Crisis Foreign Trade and Foreign Investment in Korea: Korea's Recovery and Challenges Ahead 10. Korea's Embrace of Regionalism and Economic Effects of its Bilateral FTAs with Chile and Japan 11. A Development Strategy for the North Korean Economy Part IV: Prospects 12. A New Paradigm for the Korean Economy: Advanced State Development (ASD) Model Approach 13. Towards a New Economic Development Model for Korea Index